GitLab Inc. $GTLB Shares Bought by Neuberger Berman Group LLC

Neuberger Berman Group LLC increased its stake in GitLab Inc. (NASDAQ:GTLB) by 68.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 51,358 shares of the company’s stock after acquiring an additional 20,794 shares during the quarter. Neuberger Berman Group LLC’s holdings in GitLab were worth $2,315,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Blue Trust Inc. lifted its position in GitLab by 3.6% in the third quarter. Blue Trust Inc. now owns 8,770 shares of the company’s stock worth $395,000 after purchasing an additional 302 shares during the period. Summit Global Investments increased its holdings in GitLab by 2.2% in the 2nd quarter. Summit Global Investments now owns 15,193 shares of the company’s stock valued at $685,000 after buying an additional 331 shares during the period. Jones Financial Companies Lllp raised its stake in shares of GitLab by 20.1% in the 3rd quarter. Jones Financial Companies Lllp now owns 2,139 shares of the company’s stock valued at $102,000 after buying an additional 358 shares in the last quarter. Prostatis Group LLC raised its stake in shares of GitLab by 6.5% in the 3rd quarter. Prostatis Group LLC now owns 6,051 shares of the company’s stock valued at $273,000 after buying an additional 368 shares in the last quarter. Finally, Truist Financial Corp lifted its holdings in shares of GitLab by 1.6% during the 3rd quarter. Truist Financial Corp now owns 24,473 shares of the company’s stock worth $1,103,000 after acquiring an additional 389 shares during the period. 95.04% of the stock is owned by hedge funds and other institutional investors.

GitLab Price Performance

Shares of GTLB opened at $24.91 on Friday. The company has a market capitalization of $4.19 billion, a P/E ratio of -71.17 and a beta of 0.79. GitLab Inc. has a one year low of $23.10 and a one year high of $58.75. The business’s 50 day simple moving average is $32.39 and its 200-day simple moving average is $40.42.

GitLab (NASDAQ:GTLB) last released its quarterly earnings results on Tuesday, March 3rd. The company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.07. GitLab had a negative return on equity of 1.79% and a negative net margin of 5.86%.The business had revenue of $260.40 million for the quarter, compared to analyst estimates of $252.31 million. During the same period in the prior year, the company earned $0.33 EPS. GitLab’s revenue for the quarter was up 23.2% on a year-over-year basis. On average, sell-side analysts anticipate that GitLab Inc. will post -0.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

GTLB has been the topic of a number of analyst reports. KeyCorp cut shares of GitLab from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, December 16th. Canaccord Genuity Group cut their price target on shares of GitLab from $70.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday. Needham & Company LLC decreased their price objective on GitLab from $50.00 to $32.00 and set a “buy” rating on the stock in a report on Wednesday. UBS Group lowered their price objective on GitLab from $51.00 to $44.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, The Goldman Sachs Group cut their target price on GitLab from $48.00 to $42.00 and set a “neutral” rating for the company in a research report on Wednesday, December 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, fourteen have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $39.96.

Insider Activity at GitLab

In other news, CAO Simon Mundy sold 2,756 shares of the firm’s stock in a transaction on Thursday, December 18th. The stock was sold at an average price of $38.42, for a total value of $105,885.52. Following the completion of the sale, the chief accounting officer directly owned 47,184 shares in the company, valued at approximately $1,812,809.28. This trade represents a 5.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Susan L. Bostrom sold 30,000 shares of GitLab stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $39.25, for a total value of $1,177,500.00. Following the completion of the transaction, the director directly owned 49,819 shares of the company’s stock, valued at $1,955,395.75. This represents a 37.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 603,744 shares of company stock valued at $22,536,495. 16.37% of the stock is currently owned by company insiders.

About GitLab

GitLab Inc (NASDAQ: GTLB) is a leading provider of a unified DevOps platform designed to streamline the software development lifecycle. Founded in 2011 by Dmitriy Zaporozhets and Sid Sijbrandij, the company initially gained recognition for its open-source Git repository manager. Over time, GitLab expanded its offerings to encompass planning, source code management, continuous integration/continuous deployment (CI/CD), security testing, and monitoring in a single application. This integrated approach enables development teams to collaborate efficiently, reduce toolchain complexity, and accelerate release cycles.

The GitLab platform is offered through both cloud-hosted and self-managed deployment models, catering to organizations of all sizes.